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Feds drop Durham asset-seizure suit

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The federal government on Monday morning filed papers to dismiss a high-profile civil lawsuit that sought to seize Tim Durham’s assets, including his 30,000-square-foot Geist mansion and his 2008 Bugatti sports car.

Tim Morrison, the U.S. attorney for the Southern District of Indiana, said his office had filed the case Nov. 24 to ensure Durham’s assets would not disappear. “Having [received] appropriate assurance they are not being dissipated, that litigation stopped,” said Morrison, who declined to say who provided that assurance.

The short-lived case provided the first public disclosure about the case investigators are trying to build against Durham, 47, the co-owner of Akron. Ohio-based Fair Finance Co. FBI agents on Nov. 24 executed search warrants and seized records and computer equipment at Durham’s office in Chase Tower in Indianapolis and at Fair’s Akron offices, but a bureau spokeswoman would not say what agents were after.

The asset-seizure lawsuit alleged Durham, his associates and his companies misled purchasers of investment certificates by telling them their money would go toward purchasing low-risk consumer loans. In fact, court papers allege, the money went to carry out a Ponzi scheme, using money from new investors to pay what it owed prior investors, thereby “lulling the earlier victims into believing that their money was being [handled] responsibly.”

The suit was filed one month after IBJ published an investigative story questioning whether Fair, which purchases customer-finance contracts from retailers and other firms, had the financial wherewithal to repay purchasers of about $200 million in investment certificates. The company was allowed to sell the certificates—which range from six months to two years—only to Ohio residents.

The IBJ story reported that, since Durham bought Fair Finance from Donald Fair in 2002, he had used it almost like a personal bank to fund a range of business interests, some of them unsuccessful. The story noted that he and related parties owed Fair more than $168 million.


 

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  • CLST
    IBJArticlesHome
    SEC probing Durham deal with Texas firm
    Greg AndrewsDecember 1, 2009Keywords Banking & Finance, Investing, Tim Durham
    Back to Top
    CommentsE-mailPrintRelated Articles
    Feds drop Durham asset-seizure suit
    Fair Finance offices fail to reopen
    Disclosures key to feds' probe of Durham's Fair Finance
    Related-party loans pile up at Durham-owned finance firm
    NewsTalk: Rich flocking to real estateIn Depth
    Hospitals suffer from spiking bond interest rates, investment losses
    Nervous banks cut off some borrowers, tighten reins on othersADVERTISEMENTA Texas company where Tim Durham is chairman acknowledged on Tuesday that the Securities and Exchange Commission is investigating financial dealings between it and Fair Finance Co., an Ohio-based firm where Durham is CEO.

    The transactions between Dallas-based CLST Holdings Inc. and Fair were the subject of an IBJ article early this year that raised questions about conflicts of interest.

    Publicly traded CLST revealed the SEC investigation in a filing with the commission. The filing said that the company, Durham, CEO Robert Kaiser and director David Tornek all received subpoenas.

    The filing reveals for the first time that the SEC is conducting its own investigation of Durhamâ??s business dealings and that the probe extends beyond Fair Finance, the consumer-finance firm Durham co-owns. The only previously public federal investigation was one being conducted by the U.S. Department of Justice.

    CLST was a cell-phone distributor known as CellStar Corp. until about three years ago, when the company sold off its business units to several buyers, including locally based Brightpoint Inc. Soon thereafter, Durham won election to the board, in part by pledging to dissolve the company quickly and distribute remaining cash to shareholders.

    But about a year ago, CLST reversed course and began buying consumer finance contracts, including about $3.6 million it acquired from Fair Finance.

    That transaction outraged CLST board member Manoj Rajegowda, who resigned in protest. A letter Rajegowda's attorney sent the company said he "was not informed of this transaction and most strenuously objects to it."

    CLSTâ??s Kaiser in March defended the companyâ??s new strategy of buying receivables, saying they might generate a handsome return. "With cash earning less than 1 percent, some of these other portfolios will prove to be more valuable than holding cash," he told IBJ at the time.

    The company made no mention at the time that Fair was selling the receivables because it badly needed to raise cash to repay Ohioans who had purchased about $200 million in short-term investment certificates.

    Fair acknowledged the financial strain in a document it filed about a month ago with the Ohio Department of Commerce's Division of Securities.

    â??At the beginning of 2009, management of Fair Finance Company was concerned about the effect that the countryâ??s economic downturn may have upon Fairâ??s ability to obtain sufficient capital to pay interest to its investors and to repay investment certificates as they become due,â?? the document said.

    The future of Fair has been uncertain since FBI agents on Nov. 24 executed search warrants and seized records and computer equipment at Fair and at the Indianapolis offices of Durham, 47, co-owner of the business. Fair was closed all last week for the Thanksgiving holiday and has not reopened.

    The raid came one month after IBJ published an investigative story questioning whether Fair had the financial wherewithal to repay purchasers of the investment certificates.

    The story reported that, since Durham bought Fair Finance from Donald Fair in 2002, Durham had used it almost like a personal bank to fund a range of business interests, some of them unsuccessful. The story noted that he and related parties owed Fair more than $168 million.

    Court papers recently filed by the U.S. Attorneyâ??s Office in Indianapolis show the government is trying to build a case that Durham operated a Ponzi scheme, using money from new investors to pay what it owed prior investors, thereby â??lulling the earlier victims into believing that their money was being [handled] responsibly.â??

    Fair has not been permitted to sell investment certificates since Nov. 24, when its previous securities registration expired. The Ohio Division of Securities has not acted on the companyâ??s request for a new registration.

    John Tompkins, an attorney for Durham, has said his client believes he had not done anything wrong.







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    IBJ Conversations3 CommentsAdd Comment
    CLST
    Letter to Tim and CarlDecember 1, 2009 2:16 PM
    Dear Tim and Carl,

    It gets so confusing trying to keep who said what straight. For example Carl, you said that you just wanted to get some business experience which is why you agreed to be on Tim's board. Then gosh darn it I find out that you, Carl, owns stock in CLST! Now Carl, tell us all, did you have secret information that CLST wasn't really going to pay Verizon that cash on the balance sheet and the money was going to be distributed to shareholders so you bought the stock on what was then non-public information or the prior shareholders including Indiana-based Moorehead Communications would have never sold??

    Or, did you agree to the alternative, that Tim could use the money to bail out Fair Finance! Cuz that is what he was doing, right? Who in their right mind would use good, solid greenback cash, during a systemic credit market collapse, to purchase poor quality receivables that are already in default? I don't think you have to have any business experience to know that. I know 12 year old boys who knew the country was in collapse. You, Sir, have kids of your own, right? Like the one child whose gymnastics bills you got sued over for failure to pay in 2004?

    Since this letter is to both of you, this portion is for Tim. Tim, what kind of friend are you to do this to poor Carl? Before you, Carl was a loving husband, devoted Dad and decent public servant. Now he is a posterchild for public shame. He is standing up for you, but from you, all we get is deafening silence and a bunch of hooplah from one of your attorneys because another of yours allegedly managed to get the asset seizure called off. You, and I can't really address you as Sir because you are anything but, are no friend to do this to Carl. C'mon, if you can help your friend out financially, can't you just have one of those fancy press conferences like Carl did and speak out? You can do it, high pitched voice and all, you really can.
  • re
    Would you please call Kelly Gibson in the Philadelphia SEC office and tell her what you know about Daniels et all. It is critical you help now.
  • Check your facts
    You really do need to do your homework. Mitch has incredible power in DC. His new Dir. of Administration came from DC. He was THE Dir of the IRS. Bush called up Mitch and had him hire the new DOA Dir. Now do you think that Mitch could not pull this off? If he can hide the Dir. of the IRS, he can get the FBI to back off Durham. This whole thing stinks.
    • Not Too Late
      Investors with Fair Finance who have concerns or information to share may call:

      â?¢ The Ohio Division of Securities investor protection information hot line at 800-788-1194 and 614-466-6140.

      â?¢ The FBI at 800-CALL-FBI.
    • re
      The IRS has already gotten Durham and his cronies, just watch. There's nothing Mitch Daniels can do at all about tax evasion because the IRS marches to a beat of its own: the truth. He also didn't pay sales tax on any of those cars AND didn't he collect sales tax on the few sales he did make? Wonder if he reported that truthfully? Me thinks not. Remember, Al Capone didn't go down for his real crimes, he went down for the crime involved with not reporting all the money he spent. Durham doesn't just get to go loot hundreds of millions, not report it as income and then claim it is "loans" as if he is King. Indiana is not a sovereign nation, it is a state in the United States of America and its residents have to pay their taxes, both state AND FEDERAL just like everyone else.

      Send your video of Carl pretending to be John Travolta in Fever to Gary Welsh over at Advance Indiana, it would look good on his blog.
      • WOW
        Does anyone else find it interesting that this story keeps getting buried. Look where it is in the Star. Even the IBJ seems to be backing away from the story.

        I really thought that Micky would do the whole thing right. It's obvious that Mitch got to him also. No more tax abaitments there Micki?

        Did Mitch get to the media right after he made the call to get Durham back in Biz? This smacks of total corruption at the top. The interview with Brizzi last night was pablum to say the least. They send a rookie reporter to interview a seasoned PR attorney. Who did you really think would come out on top. He ate her alive. Carl, you are a great dancer. But then agian you have hung out with enough strippers to lean how to dance. Remember Miami,???The Boat, Collins Ave?

        That interview last night was a set up for Brizzi. Softballs. Why only that station. Could it be that it was set up that way. Notice that Russ was not there. If he had been the story woudl have been different. He would not have let Brizzi off like the young lady did. She was in way over her head.

        Toast?, Lincoln Road?

        Did you get video when you were asked by Tim to dress in all white?


        Watch, this whole thing will go away. Tim Motsinger took the bullet for the rest of them. Tom John needs to do the right thing and step down. He was in the middle of all of the Durham money that went to the Cronies.

        Very sad day in Indiana.This story is going away, Durhamn is free to get rid of all of the evidence and life is good for Brizzi.

        Even the so called strong blue bloggers are backing off.

        Just keep the information in your cache, cause its going to be gone soon.
        • Daily Record Newspaper of Wooster, Ohio
          I think this pretty much sums it up, from Wooster's Daily Record newspaper today:

          Harry Garlough, a Fair Financial investor from Leetonia, said he has been investing for almost five years and was shocked at the Nov. 24 raid, which came a month after an Indianapolis Business Journal report questioned Fair Financial Co. and its ability to repay Ohio investors. The story noted he and related parties owe more than $168 million.

          "I don't know if this guy's a crook, if he's done something illegal or is dumber than hell and doesn't care," he said Monday. "Sounds to me like he's robbed the company of $168 million and spent it foolishly or I don't know. I wish I knew more. I have a substantial amount in it ... I can't afford to lose that kind of money."

          Danzer: Bankrupt. Indy Mens Magazine: Closed. Obsidian Enterprises: Taken private after repeated millions in losses and Going Concern Letters. National Lampoon: Millions in losses; Pyramid Coach: Dissolved after Dottie Rambo lawsuit...so on and so on....
        • How he really made his money
          He conned the Indiana hicks with tales of his Hollywood prowess with posters of "Animal House." These collectible posters sell for a pretty penny, y'all.

          Wait a minute, how did they know he was for real? To seal the deal, he proved he was close friends with Patrick Duffy, Leif Garrett and Kristy McNichol.
        • morons
          I GUESS YOU LAST TWO MORONS PROVED I WAS RIGHT .YOU ARE REALLY PATHETIC.
        • Being friends with Kato gets you gawked at
          In a NY Minute....pretty funny, especially that last link when you click on the last word in the article, "this:"

          http://gawker.com/5415155/kato-kaelin-picks-the-worst-friends
        • MORONS
          I NEVER REALIZED HOW MANY TOTAL MORONS LIVED IN INDY
        • Calling all paper Shredders
          Sure wish that I had a paper shredding company right about now. I bet Durham has them ALL in full use. Those shredders will be running overtime.
        • Case is still moving forward
          You are very right. It is sad thaz TD feels the need to ignore his investors, who have knocked on the closed doors of his various offices to no avail, but he has no problems having his lawyer get in the press.

          FULL ACCOUNTING ASAP is the right press release, and frankly the only defense he has at this point in my opinion.
        • Confusion
          Unless I am reading th story incorrectly, nothing has been dropped except the asset forfeiture case. All the documents seized are still being reviewed. All the fillings are still be scrutinized for accuracy and completeness. The underlying case is still moving forward. The only thing that has changed is that the case trying to freeze the assets so that they could be used to repay investors in the future has been dropped. That's it.
          • Pigs?
            Dude, sorry to bust your bubble. Pigs do not sweat. You are in Indiana, you should know that. As you may or may not be aware, Pigs are very smart animals. They are the smartest animal after huans and dolphins.

            However, they do eat their young,grow tusks when not taken care of and will crap anywhere, just as Durham has done to the system.

            Now that Micth made his call to DC to have the Feds drop the action against Durham, it's going to be a dead issue. Notice that there is nothing in the Star at all. Im sure that Mitch took care of that also.

            Does Mitch really have that much power in DC thatthe Feds would drop action against one of his biggest givers. I thoguht that Micth was straight up. But this stuff does not get dropped out of the Blue. Mich and Mayor Dum Dum must have really called in thier cards
          • Wow
            Innocent until proven guilty. Guess the public opinion is already out though. How many of you have been to Tims house for his Christmas party?
          • tell us tim
            It is fascinating people question whether Fair Finance is a legitmate company. The IBJ story came out a month ago. I have not seen Fair Finance issue even a press release responding to the questions raised.

            In our legal system, Tim is innocent until proven guilty. Investors are not that patient.
          • Just catching up
            Trying to make sense of what the FBI was thinking as they've done a 180 before any documents seized could've been reviewed, I came to the ibj.com site. I seriously can't believe the vile comments left insofar as someone that hasn't even been arrested (much less found guilty) of one single thing. Not so fast is obviously a jilted lover, frantically typing one post after another not just on this article -- but on all of the others as well. I personally think that should Fair investors lose anything, their very own government (and of course IBJ) should be first in the blame line.
          • Brilliant strategic move on Tim Morrison's part
            For all you naysayers, Morrison proved a brilliant move today! It's easier to prove what Durham did by 1) no more investment certificates allowed by Ohio and 2) Durham having full-access to his assets, so he has no one to blame but himself when he cannot make redemptions.

            Who's gonna lend Timmy some money to bail out his mess? NO ONE!!! Watch this baby unfold as Durham sweats like a greased pig in a mudfight to find real cash buyers for his assets...how much do you think he can sell his toys for? Maybe, maybe a total of $30-$40 Million tops. Cochran has his house for sale, between the two of them let's say $42M or be generous and say $50M. They owe $177 MILLION DOLLARS!!!! And they don't have it to pay back!!!!!

            Tim Morrison and the federal government don't have to do anything except let time prove them right. Those investment certificates are coming due as we speak...tick tock...tick tock...
          • Foolish
            How much are you investing with this "smart businessman" today?
          • Re
            It would really be nice if the posters on this board would do their homework. Morrison did not say Tim was innocent. In fact, he stated,

            "U.S. Attorney Tim Morrison said there was probable cause to believe the assets (which include his 30,000 square foot Geist home, along with other properties and bank accounts) were gained through unlawful acts.

            Morrison said the government originally moved to seize Durhamâ??s assets in order to ensure Durham didnâ??t sell off the properties or any of his other assets. "

            I am betting Morrison is no dummy and Durham is not out of the woods.

            http://www.wishtv.com/dpp/news/crime/case-against-durham-continues-to-unfold
          • Re
            The Porsche 356 is a replica from Tim's failed Speedster Motorcars--ANOTHER of his businesses he ran into the ground!!!!
          • Oops
            Think the government is a little jumpy about ponzi schemes after Madoff? Obviously the government now sees what what was going on, was not a ponzi scheme, and that Tim Durham, who is a very smart businessman, actually did nothing wrong.
            • Indiana is not a soverign nation
              I feel the need to finally post something after watching the news and reading the comments.

              I concede I have never met Tim Durham. I am in another circle, though, and did hear a rumor that he gave a very large retainer to Larry Mackey, which I find very interesting due to some conflicts of interest I will not post in a public forum.

              Unlike most except the poster today, and really more out of curiosity I did take the time to Google Tim Durham and read what was posted. I ignored the jargon and stuck to the financials on Obsidian, National Lampoon and Fair Financial (thanks to the IBJ for posting the link to the Offering Memorandum,) as well as the slew of Durham-related businesses that have all gone under. The post today regarding Durham's lack of financial acument is spot on.

              I also agree that while local politics might have dealt him a favorable hand for the moment, he will be hard-pressed to curry the same favors in Ohio, especially in lieu of the fact that he has not addressed his investors with any type of response. I can only imagine the stress and horror those people feel in learning about the character of the man they entrusted with valuable life assets. Additionally from what I have read Mr. Durham has extended to himself loans to the tune of around $177,000,000 and he will have to pay those in full. It does not appear to what I have read that Mr. Durham can pay these loans in full and my guess is he will file bankruptcy. Just my two cents for what it's worth.
            • skating again
              Tim will do just fine. As I predicted in an earlier post. His assets are back in his hands. Sounds like a bunch of player haters upset because a man has out performed them. The guy likes fast cars, planes, Yachts and hot women? Big houses too. As this democratic political onion is peeled back you will find some angry dem that has is ticked because his master plan has been foiled. Tim may or may not have done something illegal. We will not know for some time. What we do know is the Feds have made a mistake and are now returning his Bugatti (have you seen this amazing work of art?) The siezure and returning of his assets probably cost the tax payers around 25k. That is what I would be upset about.
            • think of the children
              Not the Bugatti! Think of the children being put into foster care! Do you really think the G-Men will care for the Bugi in the same caring way? While we already have a full house with a service van, minivan, and a '55 Porsche 356, I'd rather see that darling child in the protective custody of a loving family like our own than to some government foster lot.
              • We agree on something
                Well, for someone who doesn't care, you're interestingly emotional in your responses. You seem to know more about Durham's dealings than I, and I'm happy to take your word for it.

                I'll agree with you on this - the case is far from over.

                • re
                  IBJArticlesHome
                  Feds drop Durham asset-seizure suit
                  Greg AndrewsNovember 30, 2009Keywords Banking & Finance, Investing, Tim Durham
                  Back to Top
                  CommentsE-mailPrintRelated Articles
                  Fair Finance offices fail to reopen
                  Disclosures key to feds' probe of Durham's Fair Finance
                  Related-party loans pile up at Durham-owned finance firm
                  Feds seek seizure of Durham's assets
                  NewsTalk: Rich flocking to real estateIn Depth
                  Hospitals suffer from spiking bond interest rates, investment losses
                  Nervous banks cut off some borrowers, tighten reins on othersADVERTISEMENTThe federal government on Monday morning filed papers to dismiss a high-profile civil lawsuit that sought to seize Tim Durhamâ??s assets, including his 30,000-square-foot Geist mansion and his 2008 Bugatti sports car.

                  Tim Morrison, the U.S. attorney for the Southern District of Indiana, said his office had filed the case Nov. 24 to ensure Durhamâ??s assets would not disappear. â??Having [received] appropriate assurance they are not being dissipated, that litigation stopped,â?? said Morrison, who declined to say who provided that assurance.

                  The short-lived case provided the first public disclosure about the case investigators are trying to build against Durham, 47, the co-owner of Akron. Ohio-based Fair Finance Co. FBI agents on Nov. 24 executed search warrants and seized records and computer equipment at Durhamâ??s office in Chase Tower in Indianapolis and at Fairâ??s Akron offices, but a bureau spokeswoman would not say what agents were after.

                  The asset-seizure lawsuit alleged Durham, his associates and his companies misled purchasers of investment certificates by telling them their money would go toward purchasing low-risk consumer loans. In fact, court papers allege, the money went to carry out a Ponzi scheme, using money from new investors to pay what it owed prior investors, thereby â??lulling the earlier victims into believing that their money was being [handled] responsibly.â??

                  The suit was filed one month after IBJ published an investigative story questioning whether Fair, which purchases customer-finance contracts from retailers and other firms, had the financial wherewithal to repay purchasers of about $200 million in investment certificates. The company was allowed to sell the certificatesâ??which range from six months to two yearsâ??only to Ohio residents.

                  The IBJ story reported that, since Durham bought Fair Finance from Donald Fair in 2002, he had used it almost like a personal bank to fund a range of business interests, some of them unsuccessful. The story noted that he and related parties owed Fair more than $168 million.






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                  IBJ Conversations6 CommentsAdd Comment
                  PS
                  Not So FastNovember 30, 2009 1:22 PM
                  It's kind of creepy that you keep using the ids of all these dead people. Last night, you posted under Leon's name, and today you invoke the name of an all-time Indiana great (the real deal) baseball player.

                  But, since you invoke the Hall of Fame, let me invoke the Hall of Shame, staring Tim Durham.

                  In a classic moment, his own auditor stated "'Goelzer acknowledges remarks by Obsidian's auditing firm in the Company's recent 10-K filing that the Company's recurring losses, its total liabilities and its lack of compliance with the current terms of its debt financing agreements 'raises substantial doubt about the Company's ability to continue as a going concern.'"

                  What did that cirular say were outstanding loans diverted to Obsidian from the unsophisicated Ohio investors who thought they were investing in a factoring company? I can't remember, it is like tens of millions for that sinkhole alone.

                  Here's the link if you need a reminder:

                  http://74.125.95.132/search?q=cache:BFQVrghgUa4J:www.secinfo.com/dVut2.zMEx.htm+%22going+concern%22+obsidian+auditor&cd=2&hl=en&ct=clnk&gl=us
                • PS
                  It's kind of creepy that you keep using the ids of all these dead people. Last night, you posted under Leon's name, and today you invoke the name of an all-time Indiana great (the real deal) baseball player.

                  But, since you invoke the Hall of Fame, let me invoke the Hall of Shame, staring Tim Durham. In a classic moment, his own auditor stated "'Goelzer acknowledges remarks by Obsidian's auditing firm in the Company's recent 10-K filing that the Company's recurring losses, its total liabilities and its lack of compliance with the current terms of its debt financing agreements 'raises substantial doubt about the Company's ability to continue as a going concern.'" What did that cirular say were outstanding loans diverted to Obsidian from the unsophisicated Ohio investors who thought they were investing in a factoring company? I can't remember, it is like tens of millions for that sinkhole alone.

                  Here's the link if you need a reminder:

                  http://74.125.95.132/search?q=cache:BFQVrghgUa4J:www.secinfo.com/dVut2.zMEx.htm+%22going+concern%22+obsidian+auditor&cd=2&hl=en&ct=clnk&gl=us

                • Re
                  Nice spin. I don't care if Durham fails or succeeds. I care that Ohio investors, most of whom are elderly, get their money back. And, frankly, Durham's proven history speaks for itself. Obsidian: Going Concern. Danzer: Bankrupty. IndyMens: Closed. Vapour Lounge: Closed. National Lampoon: Lost millions, AGAIN, has not made a profit since Durwood and Laikin took it over. And, the crown cash cow jewel Fair Finance: Lost $1.8M on miniscule revenues.

                  Ohio politics are a lot different than Indiana. They don't have to approve him for jack crap, do they? And with no funds coming in, how do you think he is going to pay his investors back when it is obvious to most he spent the money on what?

                  In fairness to Durham perhaps he can get a line of credit. How about Old National Bank of Evansville? Oh yeah, they sued him for not paying his bills to him. How about Bank One or Chase or Huntington or Fifth Third? Oh, that's right, he has toooooo much debt to qualify for a semblence of what he "borrowed" from the Ohio investors.

                  Cases like this have highs and lows. You may perceive Morrisons action to be a high, but this case is far from over.
                  • What?
                    That's a very revealing comment on your part. The case will "resolve itself (I'll leave out quoting "on its own" since that's redundant) when Durham can't meet redemptions."

                    If you were interested in justice - or protecting investors - you would hope the case would be resolved when the truth was known. Instead, your desire is obviously for Durham to fail.

                    And, isn't that really the problem here? Biased reporting by the IBJ, based upon bitter former colleagues and bad information, leads to an over-reaction by the Government (understandable in the climate of Madoff), resulting in irreparable damage to investors and employees.

                    My guess is Durham will be fine. Too bad the attempts to "get" him will hurt so many who don't deserve it.

                    Sad, sad, sad what jealousy can do.
                    • ...
                      There's nothing in the filing that prevents the government from refiling anything, bozo. Morrison isn't stupid, and no more money is coming from Ohio, so this case will resolve itself on its own when Durham can't meet redemptions.

                      • BEEP...BEEP...BEEP...BEEP
                        Do I hear the sound of something backing up???
                      • losers
                        THE SILENCE IS DEAFING,LETS HEAR FROM ALL YOU LOSERS

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                      1. How much you wanna bet, that 70% of the jobs created there (after construction) are minimum wage? And Harvey is correct, the vast majority of residents in this project will drive to their jobs, and to think otherwise, is like Harvey says, a pipe dream. Someone working at a restaurant or retail store will not be able to afford living there. What ever happened to people who wanted to build buildings, paying for it themselves? Not a fan of these tax deals.

                      2. Uh, no GeorgeP. The project is supposed to bring on 1,000 jobs and those people along with the people that will be living in the new residential will be driving to their jobs. The walkable stuff is a pipe dream. Besides, walkable is defined as having all daily necessities within 1/2 mile. That's not the case here. Never will be.

                      3. Brad is on to something there. The merger of the Formula E and IndyCar Series would give IndyCar access to International markets and Formula E access the Indianapolis 500, not to mention some other events in the USA. Maybe after 2016 but before the new Dallara is rolled out for 2018. This give IndyCar two more seasons to run the DW12 and Formula E to get charged up, pun intended. Then shock the racing world, pun intended, but making the 101st Indianapolis 500 a stellar, groundbreaking event: The first all-electric Indy 500, and use that platform to promote the future of the sport.

                      4. No, HarveyF, the exact opposite. Greater density and closeness to retail and everyday necessities reduces traffic. When one has to drive miles for necessities, all those cars are on the roads for many miles. When reasonable density is built, low rise in this case, in the middle of a thriving retail area, one has to drive far less, actually reducing the number of cars on the road.

                      5. The Indy Star announced today the appointment of a new Beverage Reporter! So instead of insightful reports on Indy pro sports and Indiana college teams, you now get to read stories about the 432nd new brewery open or some obscure Hoosier winery winning a county fair blue ribbon. Yep, that's the coverage we Star readers crave. Not.

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